Precious metals shoot up on bullish global advice

Mumbai, Dec 11 (UNI) Both the precious metals were on the upswing today with Silver going up by Rs 185 per kg and Gold by Rs 80 per ten gm on heavy demand from retailers, traders at the Bombay Bullion Association (BBA) said.

Silver (.999 fineness) opened higher at Rs 19,265 on fresh demand from industrial users.

Later, the white metal closed at Rs 19,235 with a gain of Rs 185 per kg from its last close.

In New York, London and other markets, the white metal was quoted higher at USD 14.73/14.75 per troy ounce against USD 14.38/14.40 per troy ounce the previous day, traders added.

Similarly, price of standard mint gold (99.5 purity) and pure gold (99.9 purity) resumed higher at Rs 10,300 per ten gm and Rs 10,350 per ten gm respectively on good demand by local dealers.

Later, standard gold and pure gold closed at Rs 10,295 and Rs 10,340 per ten gm with a gain of Rs 80 and Rs 75 respectively.

In London and New York, the yellow metal was quoted higher at USD 805.25/807.50 per troy ounce compared to USD 796.25/798.50 the previous day, which helped the upward trend in both the precious metals, traders added.

Following are the spot silver and gold closing prices: Silver (per kg) .999 grade Rs 19,235 (19,050) Gold (per 10 gm): Standard mint 99.5 purity: Rs 10,295 (10,215) Pure gold 99.9 purity: Rs 10,340 (10,265) UNI NV OBB SKB1816